Traders Buy Shares of AT&T Inc. (T) on Weakness
Traders purchased shares of AT&T Inc. (NYSE:T) on weakness during trading hours on Friday. $169.84 million flowed into the stock on the tick-up and $94.42 million flowed out of the stock on the tick-down, for a money net flow of $75.42 million into the stock. Of all equities tracked, AT&T had the 2nd highest net in-flow for the day. AT&T traded down ($0.01) for the day and closed at $40.95
A number of equities analysts have recently commented on the company. Zacks Investment Research raised AT&T from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Tuesday, July 5th. Jefferies Group restated a “buy” rating on shares of AT&T in a research report on Wednesday, August 3rd. Robert W. Baird restated a “neutral” rating and set a $41.00 price objective on shares of AT&T in a research report on Monday, July 25th. S&P Equity Research set a $46.00 price objective on AT&T and gave the stock a “buy” rating in a research report on Sunday, July 24th. Finally, Citigroup Inc. lowered AT&T from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $42.00 to $46.00 in a research report on Thursday, July 7th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $41.34.
The company has a market capitalization of $251.92 billion and a PE ratio of 17.66. The company has a 50 day moving average of $42.24 and a 200 day moving average of $40.03.
AT&T (NYSE:T) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.72 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. The company earned $40.50 billion during the quarter, compared to analysts’ expectations of $40.75 billion. On average, analysts predict that AT&T Inc. will post $2.86 EPS for the current year.
In other news, CEO John T. Stankey sold 2,131 shares of AT&T stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $43.38, for a total value of $92,442.78. Following the transaction, the chief executive officer now owns 13,583 shares in the company, valued at $589,230.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Several hedge funds have bought and sold shares of the company. Harris Associates L P acquired a new stake in AT&T during the fourth quarter valued at about $1,488,000. Alpha Cubed Investments LLC boosted its stake in AT&T by 1.5% in the fourth quarter. Alpha Cubed Investments LLC now owns 44,422 shares of the company’s stock valued at $1,529,000 after buying an additional 660 shares during the last quarter. Afam Capital Inc. boosted its stake in AT&T by 40.6% in the fourth quarter. Afam Capital Inc. now owns 53,345 shares of the company’s stock valued at $1,836,000 after buying an additional 15,411 shares during the last quarter. Smith Salley & Associates boosted its stake in AT&T by 1.3% in the fourth quarter. Smith Salley & Associates now owns 73,851 shares of the company’s stock valued at $2,540,000 after buying an additional 983 shares during the last quarter. Finally, Sigma Investment Counselors Inc. boosted its stake in AT&T by 0.4% in the fourth quarter. Sigma Investment Counselors Inc. now owns 79,153 shares of the company’s stock valued at $2,724,000 after buying an additional 293 shares during the last quarter.
AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.
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